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More wealth managers are logging on to social media sites as a way to market themselves to clients, according to a survey by Cerulli Associates. More than 60% of respondents have moved from the "exploratory stage" to actively using social media since last year. Only 6% of managers say they prefer not to use social media in their marketing efforts.

Kurt Silberstein is taking over as director of alternative investments at Ascent Private Capital Management. He was the director of CalPERS' $5.3 billion hedge fund division. Ascent is the wealth management unit of U.S. Bank.

Determining when a stock truly is cheap is more complicated than it seems, but there's a good case to be made for buying emerging-market stocks, according to The Economist. Morgan Stanley said the price-to-book ratio for emerging-market stocks is 1.65, less than the average for the past 20 years, and the forward price-earnings ratio is in single digits. "So there are certainly signs of value outside the U.S., although the case is not overwhelming," the magazine's Buttonwood columnist writes.

Wirehouses, RIAs and dually registered advisers account for the bulk of exchange-traded fund use among advisers, according to a report by Cerulli Associates. Advisers are turning to ETFs for a range of benefits for their high-worth clients, including the ability to pursue passive management strategies.